I need help with this. Please someone help Question 51 pOn January 1, 20x1, PATRIMONY Co. entered into a joint arrangementclassified as a joint venture. For an investment of P2,000,000, PATRIMONYCo. obtained 30% interest in HERITAGE Joint Venture, Inc. During the year,HERITAGE Joint Venture, Inc. reported profit of P4,000,000 and othercomprehensive income of P800,000, i.e., a total comprehensive income ofP4,800,000. HERITAGE Joint Venture, Inc. declared dividends of P2,400,000How much is the carrying amount of the investment in joint venture onDecember 31, 20x1?O 4,160,000O 2,720,000O 2,000,000O 2,480,000Nexthp Question 51 pOn January 1, 20x1, PATRIMONY Co. entered into a joint arrangementclassified as a joint venture. For an investment of P2,000,000, PATRIMONYCo. obtained 30% interest in HERITAGE Joint Venture, Inc. During the year,HERITAGE Joint Venture, Inc. reported profit of P4,000,000 and othercomprehensive income of P800,000, i.e., a total comprehensive income ofP4,800,000. HERITAGE Joint Venture, Inc. declared dividends of P2,400,000How much is the carrying amount of the investment in joint venture onDecember 31, 20x1?O 4,160,000O 2,720,000O 2,000,000O 2,480,000Nexthp

Joint venture is an arrangement where two or more person or companies comes together to do some…

Question 5 On January 1, 20x1, PATRIMONY Co. entered into a joint arrangement classified as a joint venture. For an investment of P2,000,000, PATRIMONY Co. obtained 30% interest in HERITAGE Joint Venture, Inc. During the year. HERITAGE Joint Venture, Inc. reported profit of P4,000,000 and other comprehensive income of P800,000, i.e., a total comprehensive income of P4,800,000. HERITAGE Joint Venture, Inc. declared dividends of P2,400,00 How much is the carrying amount of the investment in joint venture on December 31, 20x1? O 4,160,000 O 2,720,000 O 2,000,000 2,480,000 1.

Question 5 On January 1, 20x1, PATRIMONY Co. entered into a joint arrangement classified as a joint venture. For an investment of P2,000,000, PATRIMONY Co. obtained 30% interest in HERITAGE Joint Venture, Inc. During the year. HERITAGE Joint Venture, Inc. reported profit of P4,000,000 and other comprehensive income of P800,000, i.e., a total comprehensive income of P4,800,000. HERITAGE Joint Venture, Inc. declared dividends of P2,400,00 How much is the carrying amount of the investment in joint venture on December 31, 20x1? O 4,160,000 O 2,720,000 O 2,000,000 2,480,000 1.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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